Massive Shocks for airlines Companies from Coronavirus , Losses Billions

70 global airlines canceled flights to China

The International Civil Aviation Organization, ICAO, has announced that global airlines have incurred billions of dollars in losses from the new Coronavirus.

The United Nations organization said that the profits of international airlines recorded “a possible decline by 4 to 5 billion dollars,” according to “AFP” on Friday.

“About 70 airlines have canceled all international flights destined for and from the mainland of China, and another 50 airlines have reduced their related air operations,”

The organization added that these measures “led to a decrease of 80% in the capacity of foreign airlines for travelers directly to and from China, and a decrease of 40% in the capacity of Chinese airlines for travelers.”

ICAO pointed out that the first quarter of this year recorded “a decrease between 39% and 41% in the capacity of passengers, which is 16.4 to 19.6 million fewer than passengers, compared to what airlines expected.”

“Before the epidemic, airlines were planning to increase their capacity by 9% on international flights to and from China during the first quarter of 2020 compared to 2019,” the organization said in its statement.

The most prominent losers from Coronavirus

According to ICAO estimates, Japan may lose up to $ 1.29 billion in tourism revenue due to Coronavirus, while Thai tourism losses are expected to reach $ 1.15 billion.

The organization also predicted that the consequences of the Coronavirus would be “greater than those caused by the SARS epidemic in 2003”.

The spread of the virus in China has prompted strict measures such as quarantine in more than 10 cities and the cancellation of organized trips for its citizens inside and outside the country, in an attempt to contain the epidemic that first appeared in the central city of Wuhan at the end of December.

Several countries, led by the United States, Britain and Germany, have advised their citizens not to travel to China.

The International Energy Agency announced Thursday that the global demand for oil will record its first quarterly decline in a decade due to the damage caused by the spread of the virus that caused the “Covid-19” epidemic to China’s economy and its consequences on the world.

In China, more than 64,600 people have been infected with the epidemic, while the number of deaths from the respiratory virus has reached 1483.

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